LMG's remit includes:
- setting, maintaining and promoting the common vision of London as the market of choice for global insurance;
- identifying and/or initiating and/or approving; and sponsoring commonly agreed projects that will build towards the vision;determining the relative priority of projects within the overall modernisation programme;
- commissioning commonly agreed market bodies to take primary responsibility for delivering those projects and to ensure they are appropriately resourced and financed;
- tracking and reporting on progress of those projects; and
- leading the communication of the modernisation agenda.
Additionally, LMG exists to provide clarity and, where necessary, leadership on other, non business process related, issues that require cross market consensus or collaboration.
- LMG will therefore consider all workwhere there is a need to have a co-ordinated or consolidated cross market view on any issue; andwhere collaboration between market constituents might deliver a more efficient overall outcome than individual action.